Arturo Miguel Valldejuly Sastre (CRD# 2091688, San Juan, Puerto Rico) has been a financial consultant of Popular Securities LLC since May 21, 1997. Sastre disclosed on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck that his activities have given rise to a pending customer-initiated investment-related arbitration dated July 3, 2018. The customer alleged Sastre made unsuitable investment recommendations to the customer. Sastre apparently failed to take into account the customer’s risk tolerance when advising the customer to invest in Puerto Rican securities including closed-end funds and government debt products. (FINRA Arbitration Case #18-02317). The customer has alleged damages of $1,075,000.00.
Sastre disclosed on FINRA BrokerCheck that there are four other customer disputes which collectively contain allegations against him of suitability and misrepresentation:
1) On March 16, 2015, a customer of Popular Securities filed a complaint alleging that Sastre failed to place the customer in investments that provided the customer principal protection. Additionally, the customer claimed that Sastre misrepresented the corporate debt investments, and selected an investment strategy that was not suitable for the customer. On November 6, 2015, a $75,000.00 settlement had been reached between the customer and Popular Securities.
2) Popular Securities customers filed an arbitration claim on July 27, 2015, alleging that Sastre poorly advised them in regard to their mutual fund and bond investments. By acting on Sastre’s investment recommendations, the customers apparently maintained investment portfolios that were over-concentrated in risky securities. Customers were apparently invested in a manner that did not conform to their risk tolerances. In addition, the customers alleged that Sastre misrepresented investment risks. The customers’ arbitration was settled for $75,000.00 on January 19, 2018. (FINRA Arbitration Case #15-01759).
3) On June 22, 2017, customers of Popular Securities collectively brought an arbitration concerning Sastre’s alleged inappropriate investment recommendations. Those customers contended that their objectives were to preserve capital. However, the customers were placed in risky government-debt and closed end funds. The customers have requested a total of $250,000.00 in damages. Their matter is still pending. (FINRA Arbitration Case #17-01573).
4) On February 27, 2018, an arbitration was filed by a Popular Securities customer. Allegations of Sastre’s unsuitable investment recommendations had been made by the customer. The customer contended that Sastre’s conduct was especially bad considering Puerto Rico’s damaged financial state at the time that the recommendations were made. As a result, the customer demanded a total of $397,000.00 in damages. (FINRA Arbitration Case #18-00865).
Have you experienced losses from Arturo Miguel Valldejuly Sastre or other registered representatives based on misrepresentations, unsuitable sales or other sales practice violations? If so, contact Soreide Law Group at (888) 760-6552 and speak with an experienced attorney about the possibility of recovering your investment losses. Soreide Law Group represents clients nationwide and only charges a fee upon recovery of investment losses.
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